Are you looking for a promising investment opportunity in the current market? Exxon Mobil (XOM) could be the stock you’ve been waiting for.
At Extreme Investor Network, we believe Exxon Mobil is a range-bound stock that is poised for a potential breakout in the near future. After experiencing a substantial increase from $33 at its March 2020 Covid low to $117 in March of 2023, XOM has been consolidating and resting within a tight trading range. Our analysis suggests that XOM is now ready to make a move to the upside, with a possible target of $128+/-.
Exxon Mobil is a well-known, large, and liquid defensive stock that has consistently paid an annual dividend since 1978. Despite the challenging year of 2020, when the dividend remained unchanged due to Covid, Exxon has a strong track record of increasing its dividend payout every year. With a current dividend yield of 3.39%, compared to the S&P 500 Index’s yield of 1.29%, XOM presents an attractive opportunity for investors seeking stable returns.
Our expert, Carter Braxton Worth, recommends buying XOM at its current levels. For more actionable recommendations and insights, consider becoming a member at Worthcharting.com.
Please note that all opinions expressed by our contributors are solely their own and do not reflect the opinions of CNBC, NBC Universal, or their affiliates. The information provided is for informational purposes only and should not be considered as financial, investment, tax, or legal advice. It is essential to consult with your financial advisor before making any investment decisions to ensure it aligns with your individual circumstances.
Stay informed and make informed investment decisions with Extreme Investor Network. Subscribe now for exclusive insights and analysis.